Fed to lend $60 billion to ease credit crunch

[Mortikhi]

We (USA) aren't going to last much longer.


The Federal Reserve announced Friday that it is increasing the amount of money available to banks through the new auction process it created to ease the nation's severe credit squeeze. The Fed again pledged to continue the auctions "for as long as necessary."

The Fed said that it will increase the amount offered at each of the next two auctions from $20 billion to $30 billion, a 50 percent jump. Those two auctions will be Jan. 14 and Jan. 28.
http://money.cnn.com/2008/01/04/news/economy/fed_auctions.ap/index.htm?postversion=2008010412

[ItsTime]

woohoo inflation should help things out! I like how they use the word "lend" not create.

[WilliamC]

Gee I wish they would loan me just 1 million. I'd pay it back just as soon as Congress would.

[Mahkato]

I am tempted to cash in my emergency fund and all my savings right now and donate it to Ron Paul. It's not like it's going to be worth anything in a year's time anyway.

[Mortikhi]

Its almost time for me to sell my 4 homes, condo, boat, and 3 cars and use that money to gtfo of this country.

I need to do some research on where to go...

[jillian]

Its almost time for me to sell my 4 homes, condo, boat, and 3 cars and use that money to gtfo of this country.

I need to do some research on where to go...

Is it really time to start thinking about this?

Seriously, I have four children all very young.

[Mortikhi]

Is it really time to start thinking about this?

Seriously, I have four children all very young.
I have 3. The oldest is 6 years old.